Massachusetts Financial Services Co. MA Acquires 312,858 Shares of Manhattan Associates, Inc. $MANH

Massachusetts Financial Services Co. MA grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 86.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 676,034 shares of the software maker’s stock after acquiring an additional 312,858 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.12% of Manhattan Associates worth $138,573,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC boosted its position in Manhattan Associates by 907.7% in the second quarter. Whipplewood Advisors LLC now owns 131 shares of the software maker’s stock valued at $26,000 after buying an additional 118 shares in the last quarter. Eastern Bank bought a new position in shares of Manhattan Associates in the 3rd quarter valued at $30,000. Hantz Financial Services Inc. boosted its holdings in shares of Manhattan Associates by 1,000.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 308 shares of the software maker’s stock valued at $61,000 after acquiring an additional 280 shares in the last quarter. Allworth Financial LP grew its position in Manhattan Associates by 127.7% during the 2nd quarter. Allworth Financial LP now owns 435 shares of the software maker’s stock worth $86,000 after acquiring an additional 244 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Manhattan Associates in the 2nd quarter worth about $99,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $166.01 on Wednesday. The firm’s fifty day moving average is $174.19 and its 200-day moving average is $194.46. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $299.27. The firm has a market cap of $10.00 billion, a P/E ratio of 47.30 and a beta of 1.02.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.18. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. The business had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $271.66 million. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MANH shares. DA Davidson set a $250.00 price target on Manhattan Associates in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. Citigroup upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $208.00 in a research report on Thursday, January 15th. Truist Financial set a $240.00 price target on shares of Manhattan Associates in a research note on Thursday, January 15th. Finally, Barclays reduced their price objective on shares of Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $220.83.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.